Erratum: A sharp cut algorithm for optimization.

• In this paper, Erratum for a previously published article is presented. • Now, we see that the algorithm reaches the true optimum solution closely and is faster by 20% to 45% than the Kelley's cutting plane algorithm. • The corrections are reported. In Inamdar et al. (2011), the authors had mentioned about doing gradient calculations and weights multiplying the selected farthest point to compute a cutting plane. There was an error in the procedure that the gradients were calculated after multiplication by weight, whereas gradients are to be calculated using the farthest point set prior to multiplying by weights. Now, after making the necessary changes the answers obtained by Kelley's algorithm and sharp cut algorithm are the same except the latter converges about 20 % to 45 % faster than the former. The correction is reported here. [ABSTRACT FROM AUTHOR]